As a contractor, you know that keeping on top of your books and ledgers is important. It takes time daily to keep things up to date and that may be something you just don’t have the time, or know how, to do. So what do you do?
You can hire a bookkeeper but that still means you have to do the final steps or also hire an accountant to give you the total picture you need. You could also hire a service that gives you a full service QuickBooks Team. So which is best for you? Depends on what each provides to you, the business owner.
A bookkeeper is a person, employee or outside person, who is responsible for recording all your business transactions. When you send an invoice, they record it. When you receive a deposit or payment, they record it.
They could use your QuickBooks software or their own system. They have some knowledge about accounts, sales, receivables and maybe even payroll.
It still leaves a lot of work for you. You need to set up and manage your QuickBooks software, produce and send invoices, send your payments, reconcile your credit card statements and analyze the financial information.
A full service QuickBooks team such as Contractor In Charge will be able to do a lot more for you. They will do the setup and management of QuickBooks and manage your accounts receivables and accounts payables.
This includes doing your invoicing, cash receipts and payment posting as well as managing your vendors and posting and paying invoices to your vendors.
The team will also reconcile your monthly bank and credit card transactions and close out each month for you. After that they will provide you with monthly analysis of cash flows, monthly financial statements and do your sales tax reporting and filing.
Sounds like the Contractor In Charge team would take a lot of things off of your plate, letting you do what you went into business to do… serve your customers.